2019 Go Big

Am i crazy ?

  • Total voters
    5
W

Wolf1992

Hello All

Bit about me. Im 26 and I work in finance and major firm in US.

This week, Im going to be starting my path to financial freedom. I took out a zero interest line of credit and the gave me 10k and no interest for 18 month. This is my startup capital.

Ive been trading for about a year, but experience is no indication of an edge, some people trade their whole life with no success and some make many millions, so there is more to it than time. Duh.

I will be posting my trades each week for full transparency. Based on my assessment I should double this money by end of year. And if I can get up to 50k by end of 2020 may open a hedge fund or just take the money and travel the world cheaply.

My trading style is all options on blue chips and index and some interest rates and oil depending on where I believe is the least chaos and highest probability setup. When I see an edge in my analysis I strike and have a tight stop at 1-2% of capital.
 
Wolf1992 said:
...I took out a zero interest line of credit and the gave me 10k and no interest for 18 month. This is my startup capital.

This week, Im going to be starting my path to financial freedom...

Ive been trading for about a year, but experience is no indication of an edge, some people trade their whole life with no success and some make many millions, so there is more to it than time. Duh.
More...

STOP!!!!!!!

Get rid of that loan! I dun' care if it is a negative interest loan! 18 months will creep up on you faster and faster and faster. And did you read the fine print of that loan? Is that one of those loans where if you have not paid off the loan by the time the term is up, the interest is applied retro to the date of the opening of the balance?

NEVER BORROW MONEY TO INVEST/TRADE!

Im 26 and I work in finance and major firm in US...
More...

Geez, what are they teaching you over at your firm?

Just...don't...do it.
 
you are working in a major finance firm and you are trying to make a pathetic $50k with a loan?

you are sitting on a gold mine... get your experience up, get some big projects under your belt... climb up that skill ladder quick, soon enough $50k will look like loose change.

travel the world? figure out how to do that on your company's dime... major finance firm should have lots of opportunities like, for young folks who don't have kids etc to tie them down.
 
dozu888 said:
you are working in a major finance firm and you are trying to make a pathetic $50k with a loan?

you are sitting on a gold mine... get your experience up, get some big projects under your belt... climb up that skill ladder quick, soon enough $50k will look like loose change.

travel the world? figure out how to do that on your company's dime... major finance firm should have lots of opportunities like, for young folks who don't have kids etc to tie them down.
More...

Trading like people do here is for lone wolves. The real power is in teams.
 
I borrowed $10K at Prime +1.5% from AMEX Platinum as my stake back in 1991, but I paid it back in the first year. I was trading vol and the edge loss was huge, but the vols in the UST-complex were high.

I would not recommend borrowing money to trade unless it's being staked by family.
 
destriero said:
I "borrowed" $10K at Prime +1.5% from AMEX Platinum as my stake back in 1991, but I paid it back in the first year. I was trading vol and the edge loss was huge, but the vols in the UST-complex were high.

I would not recommend borrowing money to trade unless it's being staked by family.
More...

Great des, big help there! Oi kvetch! lol
 
destriero said:
I "borrowed" $10K at Prime +1.5% from AMEX Platinum as my stake back in 1991, but I paid it back in the first year. I was trading vol and the edge loss was huge, but the vols in the UST-complex were high.

I would not recommend borrowing money to trade unless it's being staked by family.
More...

I borrowed $30,000 from my parents in early 1985 to start my BD and paid it back before year end. Borrowing from family has been done forever to start businesses. Borrowing money from Credit Cards and the like is a terrible idea. We would not even allow you to open an account with us from borrowed money.
 
Robert Morse said:
I borrowed $30,000 from my parents in early 1985 to start my BD and paid it back before year end. Borrowing from family has been done forever to start businesses. Borrowing money from Credit Cards and the like is a terrible idea. We would not even allow you to open an account with us from borrowed money.
More...


I would never suggest borrowing from cards. It happened. I did $900K (all 10Y and 30Y options) in 1996 when I was overseas and phoning in orders. Spent most of it in 96-97 and couldn't even make the taxes. I never went into debt, but I had some wild swings.
 
You must log in or register to reply here.
Back
Top